Franklin Templeton Enables Peer-to-Peer Transfer of BENJI Tokens Representing $380 Million Money Market Fund

Franklin Templeton, one of the leading asset managers, has made a significant move in the world of tokenisation by enabling peer-to-peer transfer of BENJI tokens. These tokens represent shares in a $380 million money market fund, the Franklin OnChain US Government Money Fund (FOBXX), which was launched on the Stellar blockchain in 2021.

While the ability to transfer BENJI tokens is currently limited to institutional investors who already hold the token, the company spokesperson has indicated that this functionality will be rolled out to additional wallets on the Benji Investments platform in the future.

This move by Franklin Templeton comes amidst a growing trend in the tokenisation space, with BlackRock, the world’s largest asset manager, also recently launching its own tokenised fund, the BlackRock US dollar Institutional Digital Liquidity fund (BUIDL).

Analysts see this push towards tokenisation as the next evolution of financial markets, with the potential to increase liquidity for traditionally illiquid assets such as real estate, venture capital, private equity, and art.

Franklin Templeton is not stopping at enabling peer-to-peer transfers for BENJI tokens. The company is also eyeing additional functionality for the tokens, including interoperability with other digital assets and blockchain networks.

Overall, the tokenisation push is heating up, with Franklin Templeton and BlackRock leading the way in the tokenised treasuries market. As more institutions look to follow suit and tokenise assets on public blockchains like Polygon and Stellar, the financial sector is poised for a significant transformation.